The world’s top 100 arms-producing companies saw nearly €600 billion in profits last year, fueled by conflicts in Gaza and Ukraine.
According to an analysis by the Stockholm International Peace Institute (SIPRI), these companies’ profits increased by 4.2%, reaching a record €598 billion in 2023.
While profits surged globally, European arms firms recorded a modest 0.2% rise, reflecting a smaller regional increase that does not fully align with higher demand and orders, the study noted.
Leading the top 100 arms producers in Europe are major players such as Airbus, Leonardo (Italy), Thales (France), Rolls Royce (UK), and Rheinmetall (Germany).
Airbus, renowned primarily for its aircraft production, reported that 18% of its total revenue in 2023 came from its arms division. The Franco-German conglomerate has been involved in various arms-related projects, including the conflict in Yemen and surveillance programs targeting migrants crossing the Mediterranean. Notably, in 2018, Airbus signed a $600 million (€570 million) agreement with Israel Aerospace Industries, enhancing drone collaboration, which enabled the German Ministry of Defence to lease Heron TP drones.
German companies have particularly benefited from increased demand due to the war in Ukraine. Rheinmetall, headquartered in Düsseldorf, saw a 10% increase in its profits, driven by the production of 155-mm artillery shells and the supply of Leopard tanks to Kyiv.
